Principal Diversified Income recently announced tweaks to its team and approach. Effective the second quarter of 2022, it will shift some assets from U.S. equity into U.S. investment-grade bonds and focus primarily on fixed income. Kelly Grossman and Marc Dummer, who oversee risk analytics and global high-yield bond manager selection on this strategy, respectively, will step down from the roster and move onto newly created roles within the organization. These changes build on the team’s previous modifications to emphasize fixed income and do not influence each share’s Morningstar Analyst Rating, which range from Neutral to Negative.
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